TeliaSonera’s leaving Eurasia may be delayed

Business Materials 29 January 2016 20:05 (UTC +04:00)

Baku, Azerbaijan, Jan. 29

By Huseyn Valiyev - Trend:

Absence of potential buyers of TeliaSonera's assets in the Eurasia region has complicated the process of sales, and increased uncertainty in achieving the expected results in the short term, the company said Jan. 29 in a report on 2015 operating results.

TeliaSonera announced the reduction of its presence in the Eurasia region (Azerbaijan, Nepal, Kazakhstan, Uzbekistan, Georgia, Moldova and Tajikistan) in September 2015.

It intends to fully leave the Eurasian region. As part of its new strategy, TeliaSonera will concentrate on the activity in Europe, particularly in Sweden.

Fintur Holdings BV, in which TeliaSonera owns 58.55 percent, has a share in Azerbaijan's Azercell Telecom. Currently, the Turkish Azertel Telekomunikasyon Yatirim Dis Ticaret A.S., which is a part of Fintur Holdings BV, is a 100 percent shareholder of Azercell.

TeliaSonera's revenues on the Azerbaijani market decreased by 4.6 percent in January-September 2015 compared to the same period of 2014, from 2.810 million to 2.680 million Swedish kronas (SEK).

The official exchange rate is 0.1882 AZN/SEK Jan. 29.

TeliaSonera's net sales decreased by 4.8 percent from 2.801 million to 2.666 million SEK in January-September 2015 compared to the same period of 2014.